China’s luxury market in 2024: VICs, omnichannel & CRM strategies
Despite economic challenges prompting increased savings among over half of Chinese consumers in 2023, China’s luxury market experienced a rebound, fueled by financially resilient core luxury consumers. In this landscape, Very Important Customers (VICs) have emerged as pivotal drivers of consumption, inducing luxury brands to pivot their focus from entry-level consumers. In tandem with this […]
Five China marketing strategies that domestic brands do better than foreign brands
Foreign brands have enjoyed a positive reputation in the Chinese market for years, but as China shifts to a consumption-driven economy, domestic brands are gaining increasing advantage. As the nation’s digital ecosystem becomes increasingly more complex and further diverges from what’s familiar to the West, Chinese companies are better able to navigate the digital world […]